TSMC shares fall more than 3% after Intel's plan to expand advanced chip capacity

FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang/File Photo

Shares of the world's largest contract chip manufacturer TSMC fell as much as 3% on Wednesday after Intel said it will greatly expand its advanced chip manufacturing capacity and open its factories to outside customers.

The move by Intel is set to directly challenge the two companies in the world that can make the most advanced chips, Taiwan's TSMC and Korea's Samsung Electronics Co Ltd.

(Reporting By Yimou Lee; Editing by Sam Holmes)